Health benefit costs concerns of employers and employees

Reference no: EM13211891

HR Headline: Health Benefit Costs Concerns of Employers and Employees

Employers have seen health benefit costs grow 75% over the past five years. Total health benefits costs are about $9,000 per year per employee. Over 60% of employers cite containing these costs as their highest HR priority for several years. To cut costs employers are taking steps to reduce or even eliminate benefits. Companies are also increasing the amount that employees and retirees have to pay for health insurance, reducing employer contributions to pension plans, and implementing prescription drug management programs. These actions have reduced employee satisfaction with their benefits. Many employees voice concerns that their annual pay increases only cover the extra benefits charges they must pay.

Questions for Discussion:

1. To maintain benefit costs for current employees, do you think companies should eliminate benefits for retirees? Why or why not?
2. To cut benefit costs, employers could charge employees more for health benefits or reduce the contributions to pensions. Which do you think is best and why?
3. As an employer, how could you try to increase employee satisfaction with their benefits without spending more on the costs of benefits?

Weekly CASE STUDY INSTRUCTIONS
IMPORTANT!!
Please support your ideas, arguments, and opinions with independent research and format your work in proper APA format.At lease 3 sources and 500 words

Reference no: EM13211891

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